Little Green Pharma
Little Green Pharma (LGP) has entered into an exclusive agreement with PharmaServe to distribute its branded oil medicines and cannabis flower in Greece.
PharmaServe will distribute LGP medicines and not promote any other cannabis medicine in Greece for at least two years, with further exclusivity periods to be extended by agreement. In return, LGP will only distribute via PharmaServe in Greece for the two-year period.
The company will supply the medicines from its Australian and Danish facilities and share product revenues on a 50:50 basis, subject to LGP receiving certain minimum prices per unit.
LGP CEO Fleta Solomon said the agreement reflects the company’s strategy to grow significant share in key markets across the European Union.
She added: “With the addition of Greece… LGP aims to capture a market that is significantly underserved and overlooked by other medicinal cannabis producers.
“With a population of around 11 million and no currently registered cannabis medicines, the market… represents another attractive opportunity for LGP’s broader international growth ambitions.”
New Zealand firm Ora Pharm has launched in Australia with dried flower and branded finished products distributed by Canngea and Anspec and listed on medicinal cannabis database Catalyst.
Founder and CEO Zoe Reece said the company had achieved its initial goals via seed funding. The company is now undertaking a Series A funding round via online platform the Syndex exchange.
She added: “We’re now entering an important growth phase that will see Ora Pharm expand our operations in New Zealand, release our first product range, launch into global markets, and commence research and development.
Emyria is set to start Phase 1 clinical trials of its ultra-pure CBD drug candidate EMD-RX5, with recruitment expected to start later this quarter.
EMD-RX5 is an oral CBD formulation developed to meet Therapeutic Goods Administration (TGA) and US Food and Drug Administration (FDA) requirements. It is expected to be a candidate treatment for multiple clinical indications including psychological distress and irritable bowel syndrome.
The trial will be conducted at Adelaide’s CMAX Clinical Research following ethics approval and will assess the safety and bioavailability of EMD-RX5 compared to Epidyolex following a successful animal study.
Managing director Dr Michael Winlo said: “Given the speed and success of developing EMD-RX5… Emyria is now evaluating other proprietary cannabinoid formulations and dose forms that may be suitable candidates as additional drug-development programs for our expanding treatment pipeline targeting registration in Australia and the US for large unmet needs.”
Rua Bioscience shareholders have overwhelmingly approved the purchase of Zalm Therapeutics announced in December last year.
The purchase will be undertaken through the issue of 28.7 million shares over three years to Zalm shareholders based on the achievement of agreed milestones.
Rua Bioscience CEO Rob Mitchell said Zalm’s global-scale GMP capability and experienced distribution partners would help “create a powerful global brand faster”.
He added: “While there is plenty of work ahead, we expect the purchase of Zalm will be transformative for Rua.”
Rua expects to settle the transaction with the first tranche of shares being issued by January 31 and will establish a transition advisory board to ensure the successful integration of Zalm into the business.